Release Details

Delay in Filing is related to Underestimation of Rebate Reserves for FY 2009 and FY 2010

Expected Adjustments are Not Material to Previously Issued Consolidated Financial Statements

Company Reiterates Full Year 2012 Revenue and EPS Guidance

SAN CLEMENTE, Calif., March 15, 2012 (GLOBE NEWSWIRE) -- ICU Medical, Inc., (Nasdaq:ICUI), a leader in the development, manufacture and sale of innovative medical technologies used in I.V. therapy, oncology and critical care applications, announced today that it anticipates filing a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission with respect to its Form 10-K, which allows the Company an additional 15 calendar days to file the Form 10-K which is otherwise due on March 14, 2012.

The delay in filing has been caused by an analysis of certain accounting items related to an under estimation in the rebate reserves that amounted to an increase to the reserves and a reduction to net sales and operating income of approximately $2.5 million for the year ended December 31, 2009. For the year ended December 31, 2010 the Company made an additional reserve adjustment and a reduction of revenues and operating income of approximately $1.6 million. These results are preliminary and the Company's management believes the effects of these adjustments are not material to any of its previously issued consolidated financial statements.

Reiterating Fiscal Year 2012 Guidance

For the full fiscal year of 2012, management continues to expect to generate revenue in the range of $318 million to $330 million, diluted earnings in the range of $2.45 to $2.70 per share, and operating cash flow in the range of $40 million to $50 million.

About ICU Medical, Inc.

ICU Medical, Inc. (Nasdaq:ICUI) develops, manufactures and sells innovative medical technologies used in infusion therapy, oncology, and critical care applications. ICU Medical's products improve patient outcomes by helping prevent bloodstream infections, protecting healthcare workers from exposure to infectious diseases or hazardous drugs and monitor continuous cardiac output of critical care patients. The Company's complete product line includes custom I.V. systems, closed delivery systems for hazardous drugs, needleless I.V. connectors, catheters and cardiac monitoring systems. ICU Medical is headquartered in San Clemente, California. For more information, visit the Company's website at www.icumed.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements contain words such as ''will,'' ''expect,'' ''believe,'' ''could,'' ''would,'' ''estimate,'' ''continue,'' ''build,'' ''expand'' or the negative thereof or comparable terminology, and may include (without limitation) information regarding the Company's expectations, goals or intentions regarding the future, including, but not limited to, statements regarding the Company's belief that it is well positioned for growth in 2012 and beyond, statements regarding the Company's plans to capitalize on new market opportunities through its manufacturing plant in Slovakia and to deliver high quality products worldwide, and the statements under the heading ''Fiscal Year 2012 Guidance.'' These forward-looking statements are based on Management's current expectations, estimates, forecasts and projections about the Company and assumptions Management believes are reasonable, all of which are subject to risks and uncertainties that could cause actual results and events to differ materially from those stated in the forward-looking statements. These risks and uncertainties include, but are not limited to, decreased demand for the Company's products, increased competition from competitors, lack of continued growth or improving efficiencies and unexpected changes in the Company's arrangements with its largest customers. Future results are subject to risks and uncertainties, including the risk factors, and other risks and uncertainties, described in the Company's filings with the Securities and Exchange Commission, which include those in the Annual Report on Form 10-K for the year ended December 31, 2010 and the Quarterly Report on Form 10-Q for the quarter ended September 30, 2011. Forward-looking statements contained in this press release are made only as of the date hereof, and the Company undertakes no obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: ICU Medical, Inc.

         Scott Lamb, Chief Financial Officer

         (949) 366-2183

         

         ICR, LLC.

         John F. Mills, Senior Managing Director

         (310) 954-1105